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When a medical emergency strikes, you hope that your insurance premiums cover all the expenses that might arise. Those without health insurance may end up making difficult decisions to finance medicines or life-saving procedures. Keeping your finances healthy should include a little insurance planning ahead of time, to keep costs down in the future. Even if you have no emergency fund or insurance, you can still take out payday loans, but they typically are for small amounts that may not cover the entire cost of the medical emergency. However, they can be used to fulfill the deductible so that the plan can take care of the rest. Just realize that any loan you take out, including payday loans, will come with interest rates that add to the cost of the loan.
That’s the reason that the best way to put your finances on a solid footing is to plan for life’s little unexpected events. If you are self-employed and don’t have access to an employer’s health insurance plan, you can still choose a high deductible catastrophic health insurance policy and start a health savings account for the minor emergencies. The health savings plan puts your mind at ease and can be used for other things, if the need never arises for using it for health reasons.
If you have small children and are married, or divorcing, be sure to keep them covered under a health insurance plan too. Children require regular visits to their pediatrician to keep them healthy and qualify them to go to school. Without a plan, these expenses can mount up and eat into your budget right at the start of the school season, when you need the funds the most. With a little foresight, you can plan to have the children’s health needs met and still keep a good budget. And, you will also have a bit more stability to plan your future financial growth.
37 Responses so far to "The Cost of Staying Healthy"
June 30th, 2008 at 6:51 am
Thanks for this post. I think I must have a plan to get my insurance
July 1st, 2008 at 11:02 am
Nowadays young people don’t pay attention to the insurance. Cos’ they are still healthy, but it is a very important thing, esp. in the US.
July 4th, 2008 at 4:40 pm
The main problem is that we do not think that something will go wrong or something bad will happen. We are never emotionally prepared for an accident or decease, but we can be financially prepared. Having emergency founds and the appropriate insurance covering will help a lot in any unexpected situation.
July 6th, 2008 at 5:48 pm
Most states have very good health insurance programs for kids (CHIP). Ohio health insurance plans are quite affordable for children, although most states have higher premiums.
October 8th, 2008 at 4:42 am
i dont think young people dont pay attention to the insurance, i got my accident insurance , bike insurance and i`m only 24
October 11th, 2008 at 11:44 am
The NHS in the UK are very helpful and although its good to have health insurance in place, the NHS still help everyone
October 23rd, 2008 at 12:20 pm
Only few developed countries have very good insurance policies. In other places its just the wealthy who get insured.
November 5th, 2008 at 4:35 am
No matter where you are health insurance is very important.
November 6th, 2008 at 6:08 am
Hello,
Thanks for the post and i think now a days insurance is must for every one.Everyone should read this post and I’ll definitely pass this article to my friends and relatives. Thanks for sharing your thoughts.
November 7th, 2008 at 5:48 am
This is so true that’s why as early as now I am setting aside a small portion for my daughter’s health and schooling…
November 7th, 2008 at 6:04 am
Having protection against the health problems is very important.
November 8th, 2008 at 5:13 am
Insurance is a must for all the people young and old.
November 9th, 2008 at 6:25 am
Insurance is very important for everyone young and old.
November 9th, 2008 at 11:52 am
This is so nice.Atleast I know I am doing the right thing because here in Phil its very costly to be sick.
November 12th, 2008 at 5:22 am
Protection of your family is very important.
November 17th, 2008 at 3:53 am
Health insurance, as we know it now, will change under the Obama plan. It may take 2-6 years, but change is coming. For the good? I’m not sure.
November 17th, 2008 at 10:19 pm
It often strikes me how differently those of you in America must view your health, when you have to be insured or pay up yourselves to recieve healthcare. Perhaps we in Britain take it for granted sometimes.
November 23rd, 2008 at 3:58 pm
We are never emotionally prepared for an accident or decease, but we can be financially prepared. Having emergency founds and the appropriate insurance covering will help a lot in any unexpected situation.
November 28th, 2008 at 6:22 am
Many people think that insurance is not a problem… until its too late. When the time comes when a loved one is in the emergency room, you want the best possible insurance. Great post.
December 28th, 2008 at 7:10 pm
Hey, you haven’t posted in a while. Any chance of seeing you online again?
January 5th, 2009 at 5:01 am
Health insurance is really important. But considering the economic crisis, I don’t think many are likely to enroll because of the insurance firms problematic environment.
January 11th, 2009 at 5:18 am
The health insurance really is useful. especially for people who don’t have emergency fund.
January 14th, 2009 at 3:50 am
Insurance is a must, Health is the biggest asset of any middleclass, and investing in health always gives you big returns, unlike the wall street investments. So take care of your health and insure it.
January 27th, 2009 at 2:11 pm
I agree. Being without insurance is just to risky. More so than many young people realize.
By the way, I have listed this blog as a dofollow blog and send a few readers your way. I’ve linked to
the page above.
I’m in the process of updating the rankings and providing a bit of information about each site. Updates should be up by Wednesday. Let me know if you’d like to change yours.
Warmly,
Linda P. Morton
February 3rd, 2009 at 5:25 pm
As far as our health is concerned this old adage applies…….Prepare for the worst and hope for the best.
February 4th, 2009 at 10:48 am
It is true you always think I’ll set it up later but it can be too late then, I have been meaning to set up insurance for a while, after reading this its at the top of my to do list
February 12th, 2009 at 5:14 am
Considering that I’m still young is a plus factor to prepare for the future. Health is something we have to continue to take care of but we can never be assured that all is well. What we can do for now is to put a small fraction of our income into an account dedicated for health purposes.
I’ve worked as a Nurse for quite some time and I have seen wealthy individuals become poor because they don’t have health insurance and have not prepared financially for their health. This challenged me to become aware of the many uncertainties in life.
February 13th, 2009 at 4:57 pm
I honestly think that a reformed nation-wide health care plan is on the approaching horizon and it is much more closer than 6 years. In fact, the passing of this most recent stimulus plan could set the motion for seeing changes as early as 2010. Now that would amazing…. Thanks.
March 16th, 2009 at 7:27 am
May be it’s just me, but most of health insurance companies suck. Our entire health insurance systems needs to be overhauled.
March 20th, 2009 at 3:47 pm
i think health insurance is very important
March 26th, 2009 at 12:22 am
It really can be a grueling thing to think about, but it’s really, really important to get your ducks in line and take the precautionary measurements needed!
April 1st, 2009 at 8:16 pm
One of the most important things I learned from my Mom was…ALWAYS have health insurance. A simple surgery can cost thousands. If you don’t have insurance…you will be paying for YEARS! Be smart…get health insurance. Even a small plan is better than no plan!
April 2nd, 2009 at 3:08 am
Always good to be reminded to take care of one’s insurances
April 3rd, 2009 at 5:04 pm
Nice article. It is true that everyone must have at least a single policy to protect his/her family.
May 2nd, 2009 at 6:18 am
Insurance companies should provide money for mediciens as well…
May 5th, 2009 at 5:09 am
Get it while your young and it’s affordable
May 10th, 2009 at 2:15 am
Health insurance is must on 40+ not blow 40 because the health is working down after 40 year. So, no worry, no tension before 40 years and after 40 years shall be very carefull for health. after 40 years health protection is very important.
Hence cheer up below 40years.